Eurizon closes the first half with a net profit of 226 million and a commission margin of 342 million euro. Assets under management amounted to 315 billion euros (+4% since the end of 2018). According to data from Assogestioni, Eurizon ranks first in terms of funding in Italy in the second quarter with a positive result of 1,3 billion. The cost/income ratio at 20% is down compared to the 21% recorded in the same period of 2018. This is what can be read in a note from the asset management company of the Intesa Sanpaolo Group.
In detail, open funds (+903 million) made a decisive contribution to the good result in funding, thanks to positive flows on bonds (+1,3 billion) and balanced funds (+147 million). Portfolio management aimed at institutional customers also made a positive contribution with inflows of nearly 800 million in the quarter. Overall, in any case, net inflows from the beginning of the year remain negative for 2,4 billion euro, due to the outflows recorded in the first few months of the year from both mutual funds and portfolio management.
“We are satisfied with the results for the period - comments Tommaso Corcos, CEO of Eurizon - There are concrete signs of a recovery in premium income, the result of the effective consultancy activity of the sales networks with which we have maintained close collaboration, especially in the phases of greatest tension on the markets. The contribution of institutional customers was also very positive, with whom we have developed new initiatives and started important collaborations in recent months”.
Eurizon also confirms its leadership in Italy in terms of ESG investments, according to the latest available data, with 5,94 billion euros, up by almost 6% compared to the end of 2018, on a dedicated offer that includes 25 products.
